Morning boats leave a quiet Pacific inlet, diesel hum in the air, gulls loud and nosy. News travels fast there. The $24.5M Grant from Bezos Earth Fund to Launch First Cross-Border Marine Biosphere Reserve in Latin America sets a clear signal. A large, practical step. Not theory. And yes, it anchors the phrase many groups […]
Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
Privatisation seems to have been halted in Ethiopia Airline due to the impact of the coronavirus pandemic that seem to have halted various financial sector in Africa. Following a assessment of its Flag Carrier, Ethiopia has “temporarily” suspended plans to partly privatise Ethiopian Airlines. The announcement was made by Minister of Finance Ahmed Shide. He […]
Sasol Ltd. obtained a whopping $490 million profit enhance final year thanks to the country’s fuel subsidies and its exemption from a South African carbon tax, according to the International Institute for Sustainable Development. In a press briefing, the institute says that Sasol’s proprietary coal-to-fuel technology is a significant source of greenhouse gases from its […]
The Land Bank is seeking and soliciting for for over R10 billion bailout, in the wake of the the coronavirus Pandemic which as took business entities by shock. The agricultural organization wants the government to come to their aid so as to loan them R10 billion which will be paid over the next few years. […]
The European Parliament advocated a format to toughen the bloc’s 2030 emissions-reduction target to 60% from 1990 levels, placing strain on European Union governments in upcoming talks about the ultimate form of a landmark climate law. The EU assembly posted on Wednesday the effects of greater than a hundred and seventy amendments to the law […]
South Africa’s main stock index advance 0.2% by 9:45 a.m. in Johannesburg as a stronger rand boosts shares in banks and gains for diversified miners counter weakness in gold and platinum producers. Investors will be keeping an eye on developments around a national strike called Wednesday by unions representing workers across a range of industries, […]
Raubex, the listed infrastructure development and construction materials supply group, yesterday warned shareholders its earnings per share for the six months to August 31 were expected to be much worse than it previously forecast. In a trading statement on July 30, the company said that it expected earnings and headline earnings per share to be […]
When Netflix first launched in Africa in 2016, early predictions suggested it was likely run into unique problems it had not faced elsewhere, from users’ spotty internet connectivity to questions over its pricing. Five years later, the streaming giant is starting to tweak its Africa playbook by adapting to local market realities on the continent. […]
JSE-listed emerging natural gas and helium producer Renergen yesterday signed a supply agreement with Logico Logistics Group to supply liquefied natural gas (LNG) at Total filling stations along the N3 between Johannesburg and Durban. The signing of the supply agreement between the companies comes almost four months after Renergen and Total South Africa signed an […]
Platinum Group Metals (PGMs) have overtaken coal as the biggest revenue generator in South Africa’s mining industry for the first time since 2010, according to the PwC SA Mine 2020 released earlier today. Revenue from mining houses jumped 38 percent in 2020 to R594 billion from R431bn a year earlier with PGMs generating 28 percent, […]
AlphaCode, the startup incubator from Rand Merchant Investments (RMI), has awarded Oyi Medical Card R450 0 at its first virtual demo day. Oyi is one of seven startups that were awarded entrepreneurial programs valued at R2 million each in 2019 as phase of AlphaCode’s Incubate programme. The Oyi Medical Card is a savings card that […]
Shifting goal posts and signs and symptoms of instability are now not helping to rebuild believe between residents and Eskom. Eskom has extended its request to citizens for load shedding to continue from previously projected 18 months to about 29 months (to March 2022). The biggest subject from Eskom is the unpredictability of their aged […]
Petrochemicals giant Sasol fell almost 5 percent on the JSE on Friday after it announced that it would sell 50 percent of its difficult Lake Charles Chemicals Project (LCCP) in the US for $2 billion (R33.29bn) to LyondellBasell. Sasol said the proposed sale to one of the world’s greatest plastics, chemical compounds and refining companies […]
Egypt is set to export fowl in the ultimate quarter of 2020 following the lifting of a suspension of over a decade due to the avian flu outbreak of 2006. According to a record with the aid of English-language daily newspaper Arab News, a number of Egyptian rooster agencies are making ready to export their […]
On this edition of Business Africa, we meet the women bossing Twitter timeliness across the continent. Also on this show, two sides of the Covid-19 coin; a contact tracing app in Ethiopia and the pandemic’s impact on used vehicle sales in Togo. – 200 Most Influential African Women on Twitter – Most influential African women […]
PPC Ltd. delayed the launch of its full-year income for a third time as South Africa’s largest cement maker continues to fix accounting blunders and strives to finalize a refinancing plan. The Johannesburg-based agency will now post its monetary outcomes in the week of Oct. 5, according to a declaration on Wednesday. PPC has been […]
The Fair-Trade Independent Tobacco Association stated on Wednesday it had expelled the Gold Leaf Tobacco Company from its ranks with instant effect. FITA chairman Sinenhlanhla Mnguni tested that Gold Leaf’s membership had been terminated, however did no longer right away provide reasons. The move comes two months after the stop of South Africa’s contentious Covid-19 […]
JSE-listed funding maintaining agency Rand Merchant Investment (RMI) stated on Friday that its headline profits fell with the aid of nearly 50percent for the yr to end June, generally due to the big provisions raised in Discovery and Momentum Metropolitan Holdings for the anticipated consequences of Covid-19. This comes after Discovery made provision of R3.4billion […]
Andre de Ruyter knew properly the adversity he confronted at South Africa’s strength monopoly — a state-owned wreck hollowed out with the aid of corruption that struggles to hold the lights on, pay its bills and play ball with a unionized workforce. “I don’t suppose I was once under any illusion that this wasn’t going […]